Wednesday, September 28, 2016

Banknote signed by Datuk Muhammad released Sept 29

Tommorow, the banknotes signed by Bank Negara Malaysia (BNM) Governor Datuk Muhammad bin Ibrahim will be released in circulation. According to a press release by BNM, the first batch of banknotes with Datuk Muhammad signature will be a 50 Ringgit banknotes.

Muhammad bin Ibrahim

Press release by Bank Negara Malaysia, 28 September 2016:
Ringgit banknotes bearing the signature of Governor Datuk Muhammad bin Ibrahim will go into circulation in stages from 29 September 2016, beginning with the first batch of RM50 banknotes. These banknotes are identical to the present banknotes series currently in circulation. Banknotes bearing the signature of former Governors are still legal tender and will continue to circulate with the new banknotes.

The press release by BNM stop speculation among collectors how his banknote signature will be, it is the same as the signature for commemorative coins certificate of authenticaty (COA). I share about it before here: Datuk Muhammad Ibrahim, Gabenor Bank Negara ke-8.

Datuk Muhammad Ibrahim was appointed as the 8th Governor of the Central Bank of Malaysia on May 1, 2016. He will hold the position of BNM Governor for 5 years after obtaining the consent of the Yang di-Pertuan Agong.
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Tuesday, September 27, 2016

illegal Investment Company under BNM (updated Sept 2016)

On 22nd September 2016, Bank Negara Malaysia (BNM) has released a new update for illegal Investment Company which are neither authorised nor approved under the relevant laws and regulations administered by BNM. The list only serves as a guide to members of the public based on information and queries received by BNM. Most of the company in the list are Illegal Foreign Exchange Trading Scheme and Illegal gold investment company. The company/individual listed as illegal because they're not an authorised dealer or has not obtained the permission of the Controller of Foreign Exchange under the Exchange Control Act 1953 (ECA). It is also illegal to trade foreign currency by a resident who is not an authorised dealer, with a person outside Malaysia, or by a resident who has not obtained the permission of the Controller of Foreign Exchange under the ECA.

illegal company

Illegal Investment Company under BNM:
1. 1globalcash
2. (
3. 3Sixty Venture Capital PLC (
4. Ace Global Sales & Services
5. Ace Dimension Network Sdn Bhd.
6. AE Group Holding Pte Ltd ( (201322498-D)
7. Agarwood Venture (002273031-A)
8. Agar Wood Chamber of Commerce Malaysia
9. Ajuwah Realty Sdn Bhd (966604-D)
10. Ajuwah Agencies Sdn Bhd (966604-D)
11. Ajuwah Consultancy
12. Alpari (Asian) Ltd
13. Al-Saliha Worlwide Sdn. Bhd. (628267-M)
14. Amazing Yields Sdn Bhd (891529-V)
15. Amethyst Gold Creation Sdn Bhd (951063-K) (
16. APS Asia Plantation Sdn Bhd (984575-T)
17. Arba Emas Perak (SA0280035-A)
18. Aruna Travel
19. Asas Seroja Sdn Bhd (357014A)
20. Ashnik Holdings (M) Sdn Bhd (1124601D)
21. Ashnik Trading (002369914-W)
22. Asialink Globe Capital (
23. Astral Progress Sdn Bhd (989294-K)
24. AU Niaga Sdn Bhd (907806-W)
25. AU79 International
26. Aurawave Marketing Sdn. Bhd (
27. Axis Capital Corporation Ltd (
28. Aziera Gold Enterprise (NS0133976-K)
29. BFS Markets
30. Binary Indulgence Sdn Bhd (963258-W)
31. Build Rich Mining Group Bhd (1006586-T) (
32. Build Rich Investment Group Ltd
33. Build Rich Group Holding
34. Build Rich Agrotech Berhad
35. Build Rich Enterprise
36. Bumi Klasik Warisan Enterprise
37. Capital Asia Group (M) Sdn Bhd (
38. Cash Deal Sdn Bhd (929192-K) (Boss Venture) (
39. Celik Emas Enterprise (0021517795-K)
40. Changkat Agro Resources (IP 0353991V)
41. CGF Fine Metal Sdn Bhd
42. Classic Worldwide Corporation (M) Sdn Bhd (773082M) ( (
43. CTK Network (
44. CybertrustFX
45. Dana Haji Jasman
46. Danatama Millennium Sdn Bhd (819082-U)
47. Darul Emas Perak Bhd (1053229-X)
48. DBB Star Sdn Bhd (1110055-M)
49. Degold Empire Sdn Bhd (882335-M)
50. Delta Wealth Services (002194713-K)
51. Destiny Resources Services
52. Dgreat Network (
53. DM Rise Enterprise (PG 0262929-H)
54. DNA Profile Sdn Bhd (245435-W)
55. Dream Success International Sdn Bhd (1002002-P) (
56. Dynamic Wira Marketing Sdn Bhd - Skim Beras 1 Malaysia
57. Dynasty Worldwide Sdn Bhd (800311-D) (
58. Eagle Aeronautics (M) Sdn Bhd (796603-A)
59. East Cape Mining Corp
60. Ecofuturefund (
61. Emgoldex (Emirates Gold Exchange)
62. Empire Five Trading (
63. Energetic Gateway Sdn Bhd (511826-X)
64. Epic Palms Bhd (
65. Everise Fumigation Sdn Bhd (861654-K) (
66. Exquisite Bottle Index Sdn Bhd (1060843T) (
67. Extra Capital Programme (
68. Ezey Marketing
69. E-Qirad Sdn Bhd (595699-D)
70. FA Markets
71. Family Wealth Resources (SA0310508-M)
72. Fari Group Global Resources (SA0319984-M)
73. FE Brands (M) Sdn Bhd (1000656-H)
74. Flexsy Enterprise & Barrilorne Corp
75. FNZ Capital Limited (
76. Fortrend International Sdn Bhd ( 876619-X)
77. (
78. Future Trade Indojaya Sdn Bhd (1003327-P) (
79. FxUnited Malaysia (myfxunited)
80. FXUnited Power Sdn Bhd (1146795-M) (
81. FXZN Zenith Limited (
82. FXZN Investment Limited
83. FXZN Zenith Management Limited
84. FX Primus Ltd (
85. Gain FX Capital Sdn Bhd (
86. Gan Patt Services
87. Ganding Wawasan Trading (TR0133766-A)
88. GGC Aqualculture Sdn Bhd (1044976P)
89. GGF Golden House Sdn Bhd (803753-W)
90. GGT Golds Sdn Bhd (547290-D)
91. Global Creation Trading
92. Global Golds Trading (JM0518201-W)
93. Global Peace Loving Family (
94. Global Venture Financing (
95. Global Wave Gold Corporation (
96. Gold Bullion World Sdn Bhd (1018604-A) (
97. Gorgeous Chain Sdn Bhd (841928-P)
98. Grand View Golden Success Sdn Bhd (638186-X) - Golden Maximum
99. Great Access Sdn Bhd (517965-X)
100. Green Buck Resources Sdn Bhd (851115-A)
101. Greenmillion Agrosolution Enterprise (
102. Green Forest Global Sdn Bhd (987049-P)
103. HAFX Global Venture Sdn Bhd
104. Harvest Reliance Consultancy Sdn Bhd (965589-W)
105. HEA Teguh
106. Hexa Commerce Sdn Bhd (645798-X)
107. HG Resources Sdn Bhd (HGR) ( ( (
108. HiFX Asia (HiFX)
109. Highway Group Resources ( ( (
110. Hin Huat Auto Sports (TR0005484-X)
111. Holiday Express Asia
112. Honest Group Ltd
113. Hupro International Inc
114. I & A Global Community Network
115. Iconhill Holding Sdn Bhd (810775-P)
116. IGC Diamond
117. Infinity Star International Sdn Bhd (851864-T)
118. Iridian Ventures PLT (LLP0002569-LGN)
119. IronFX Solid Trading
120. Instaforex
121. Instagroup Resources (JM0531870-X)
122. Isothree Gold Sdn Bhd (906561-K)
123. Inter Pasicfic Soyy Enterprise
124. Jalatama Management Sdn Bhd (929594-W) (
125. Jazlaan Enterprise
126. JM Communications & Technology Sdn Bhd (702054-V)
127. JMI Global
128. JTGold
129. Kelab Kebajikan dan Sosial Tun Teja Malaysia (
130. Kelab Kebajikan Sosial Malaysia (VVIP88)
131. Keenan Capital Group
132. Keenan Prestige Services (002095851-P)
133. Keenan Brilliant Services (002021597-V)
134. Khaira Sakinah Resources (CT0018249-R)
135. KL FxUnited Club
136. Kris Plus Enterprise (IP0238424-A)
137. Kudaemas (
138. Lestari2U (
139. Liberty Reserve (
140. Life Time Holidays Sdn Bhd (727129-U)
141. LocalAdClick (
142. (
143. LS Gold Bullion Sdn Bhd (235435-H)
144. Mari Wholesale (M) Sdn Bhd (556117-T)
145. Maxim Capital Ltd (
146. Maza Network Sdn Bhd (1006389-H)
147. McRen Oceanus Sdn Bhd (908484-X)
148. MD Venture Group Sdn Bhd (1058936U)
149. Meccafund Family Malaysia
150. Mecca Fund Global (MFG) ( ( (
151. Mega Dynasty Sdn Bhd (931589-V)
152. Megaherbs Bioextreme (001946380-K)
153. Megah Mewah Trading (SA0295909-A)
154. MGCfx (
155. MGC Capital Sdn Bhd (
156. MGSB Holding Sdn Bhd (
157. MH Secret Wealth Enterprise (NS0122059A)
158. Million Jade Sdn Bhd (
159. Miracle Day Trading (JR0047390-V)
160. Mohamad World Enterprise
161. MOP Consultant Sdn. Bhd (101867-W)
162. Mughniwave International Sdn. Bhd. (1163697-W) (
163. MX3 World Wide ((
164. My Cameron Hills Sdn Bhd (984170M)
165. Nexgain Malaysia Sdn Bhd (773854-D)
166. Next Generation Mall
167. Nory Motor (TR0023237-H)
168. Norry Setia Ent (TR0103958-M)
169. NTB Agencies dn Bhd (1039052-M)
170. Ocean Century International Limited (
171. OCI Management Sdn Bhd (1042036X) (
172. OCI Venture Sdn Bhd (1039926H) (
173. ODFX (
174. OLTA Capital Management Inc.
175. One AutoCash (
176. Orion Healthcare Management Services Sdn Bhd
177. Orion Prokasih (M) Sdn Bhd
178. Ostim Academy (002443002-A) (
179. Overseas Delight Sdn Bhd (614245-W) (
180. Pancar Mayang Sdn Bhd (527196-H)
181. Pars Pay Sdn Bhd (813378-V)
182. Pegasus Bullion (
183. Perfway Traders Sdn Bhd (918583-V) (
184.. Perniagaan Jatidana Wawasan (M) Sdn Bhd
185. Perubatan Islam Seiring Syariat Al-Ikhlas
186. Pioneer Forest Sdn Bhd (1069104M) ( (
187. Pok Din Consultance & Services (
188. Pok Din Empire Sdn Bhd (1130978-D) (
189. Power Trade Asia Sdn Bhd (933528-T) (
190. PPC Storm
191. Preferred Credentials Sdn Bhd
192. Premier Ventures Gold
193. Prestige Dairy Farm (M) Berhad (832757-A)
194. Profit Web Sdn Bhd
195. Program 10 Bulan Forex Trading
196. Program I-Rich
197. Pro Infinity Ltd (
198. Projek Duit 2012
199. Provisio Multimedia
200. Public Golden House Sdn Bhd (806825-M)
201. Puncak Hartawan Resources (0000097980-T)
202. Quantum Capital Program ( (
203. Ram Kris Venture (0024165647-K)
204. RCFX
205. RC Group
206. RC Group Sdn Bhd
207. Real Biz Pasif
208. Real Ingenious Sdn Bhd (926598-U) (
209. Rejab Trading (TR0115248-A)
210. Rejabwealth Sdn Bhd (1005424-X)
211. Reza Anuar Seven
212. Retro Titan Sdn Bhd
213. RGCX Trading Corp (
214. Rimbun Tekad Realty Sdn Bhd (966620-V)
215. Rimbun Tekad Consultancy Sdn Bhd (966620-V)
216. Rising Premium Sdn Bhd (285572-P)
218. (
219. RN Corporate Services Sdn Bhd
220. Rowther Technologies MSC Sdn Bhd (727979-T)
221. Royal Gold Sdn Bhd (1005830-X) (
222. Royale Team Groups (
223. RS Capital Holdings Bhd (819833-P)
224. Safeena Gold Gallery (IP0386035-U)
225. Sejati Agarwood Enterprise
226. Sera Land Mangement & Enterprise (JM0503206-P)
227. SGFM Trading Sdn Bhd (936419-V)
228. Slimberry Extreme Team (
229. Solar Bond Capital Sdn Bhd (1157972-A) (
230. Speedline (
231. Srgold Exchange Bhd (1033164-V) (
232. Sri Perkasa Emas Trading
233. Sri Chempaka Emas Enterprise (SA0293336-P)
234. Steady Dynasty Sdn Bhd (782270-H)
235. Steady Global Network Sdn Bhd
236. Suliz Pearl Mines
237. Suisse Coins Sdn Bhd (
238. Sweblink Global Network Sdn Bhd (209952-H)
239. Swiss Capital Venture
240. Syarikat Azza Motor Network Sdn Bhd (104795-P) ( (
241. Syarikat GECS Ltd
242. Syarikat Sri Alam
243. Tabung Dana Ehsan
244. Tanjung Trading (TR0123942-W)
245. Tenaga Setia Services (107239-P)
246. TG Reliance Sdn Bhd (1086255-A)
247. The Gold Guarantee
248. Titan Group Sdn. Bhd (823732-U)
249. TP Eagle Venture Sdn Bhd (114378-M) (
250. Trillion Venture (
251. Triple One Management Pte Ltd (T1FX) (
252. (
253. UER Gold (
255. Ultimate Power Profits (
256. United American Traders Council (
257. Uni Argrow (Cambodia) Co. Ltd ( (
258. Uncang Teguh Resources (0000102116-T)
259. Urustabil Sdn Bhd (545426-X)
260. VC Gold Sdn Bhd (722295-T)
261. Virgin Gold Mining Corporation
262. VenusFX (
263. Verger Management Services
264. Wadiah Trading (
265. Water World Marketing (CA0177161-P)
266. Westrank Equity Sdn Bhd (1046449-A)
267. Windsor Fragrance Sdn Bhd (599208-H)
268. World Dirham Berhad (970807-X)
269. Worldwide Community Programme (
270. WSL Merchants Pte Ltd (
271. XOC7
272. YDS Corporate Line Sdn Bhd (877697-P) (
273. YDS Holding Groups Bhd (987797-T) (
274. Zenith Gold International Limited (ZGI) ( (
275. Zeta Capital Management
276. Zill Akasha Gemilang Enterprise
277. (

How the illegal investment company operate:
1) Illegal operators usually operate on a small scale and claim they can provide remittance services efficiently, without the need for any documents or identification. They rarely use documents to validate and verify the transactions. By engaging in these transactions, customers run the risk of being cheated and their funds may never reach its intended destination.

2) Illegal operators usually target job seekers by placing attractive advertisements to lure prospective employees to join the company, after which they use them to solicit for new investments. Most often, employees will be encouraged to approach their direct family, relatives and friends before targeting members of the public.

3) Illegal operators usually portray a professional and reputable image, a high-tech office layout and advanced IT facilities, such as a LCD screens displaying movements in exchange rates to provide the impression that a legitimate and real business is being conducted. These facilities are merely a false front.

4) Investors can either trade using their trading accounts with the company or through dealers appointed by the company. In some cases, investors are allowed to operate their accounts via the Internet.

5) Investors are also required to sign a business contract which is normally entered between the investors and a principal company overseas.

6) In most instances, the operators will inform the investors that they will have to send these contracts to its principal company overseas for signing. However, such contracts are usually left unsigned.

7) As such, in the event the investors are unhappy with future dealings and transactions, no action can be taken against the company as there is no binding contract between them.

8) Investors will usually get high returns on their initial investments. This will convince them to increase their investments in hopes of higher returns. Eventually, they will end up losing everything when the illegal operators suddenly go missing.

9) Investors who lose their money through purported volatility of exchange rate movements are informed by the illegal operators that they need to pay margin-call in order to recover their paper loss

10) The illegal operators may also encourage investors to increase their investment to try to recover their losses.

You can report directly to Bank Negara Malaysia via the following communication channels:

Call: 1-300-88-5465 (1-300-88-LINK)
Fax: 03-2174 1515
SMS to 15888: BNM TANYA [your report / query]

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Monday, September 26, 2016

Steven Tan 22nd edition book

On 22 September 2016, Master Sifu Steven Tan latest catalogue, Standard Catalogue Of Malaysia-Singapore-Brunei Coin & Paper Money 22nd edition has been released by International Stamp & Coin Sdn Bhd. The standard reference for Malaysia coins and banknotes have a lots of improvements since the last edition.

Coin book

Most of our readers thought the book cover making them remembered the Disco era in the 70's. During that era, which began in the mid-'70s, it encouraged a whole generation to dance and party.

In my opinion, the book cover is just a message to everyone to chill out and relax since the market price for Malaysia numismatic collection has been dropping tremendously. Keep on collecting within your budget and share knowledge and information to everyone.

Many readers also ask me, is this the last book by Steven Tan for Standard Catalogue Of Malaysia-Singapore-Brunei Coin & Paper Money? International Stamp & Coin Sdn Bhd recently has announced their Stamp Catalogue for this year will be the last one publish by the company. We can just hope it will not be the last book by Steven Tan.

Is it a coincidence that this Steven Tan 22nd edition book released on 22 September 2016?

In the latest edition book, two new sections has been added, Malaysia Genting Game Token. 4 pages of the Genting tokens has been added in the book from 1974 until 1997, 16 tokens in total.

Malaya Petrol coupons has been added with coupons from 1941 until 1950. Congratulations to some of my friends who have been waiting patiently for Malaya Petrol coupons to be added in Steven Tan Book.

New coins added in this book are in full color instead of the plain black & white photo for coins from the old catalogue, the B&W coin photos are still there, only new coins in full color.

Variety "b" &"d" has been added for Malaya 20 cents banknote.

The total number of pages for the new book are approximately 432 pages compare to Steven Tan 21st edition book, approximately 369 pages. The new 63 pages including:
  • 5 new pages for Brunei Banknotes, all of them is for Brunei essay, trial and proof banknotes.
  • 2 new pages for Sarawak Banknotes, Sarawak 1929 color trial set and a set of unissue proof.
  • 3 new pages for Straits Settlements banknotes, 1924 & 1929 Archival Photographic Designs.
  • 1 new page for Malaya banknotes, 1949 & 1952 Archival Photographic Designs.
  • 2 new pages for Malaya & British Borneo banknotes, 1952 & 1958 Archival Photographic Designs.
  • 5 new pages for Central Bank of Malaya; Board of Commissioners of Currency Malaya and British Borneo & Bank Negara Melayu Raya Archival Photographic Designs.
  • 3 new pages for Bank Negara essay, trial and proof banknotes.
  • 7 new pages for Singapore Banknotes, all of them is for new Singapore SG50 banknotes, essay, trial and proof banknotes.
  • 4 new pages for Rubber export coupons. B.L. & P. has been written as Brunei, Labuan & Perlis. Some new varieties and Specimen coupons.
  • 9 new pages for new section, Malaya Petrol coupons.
  • 1 new page for Malaysia 1966 trial pattern coins.
  • 5 new pages in full color for Malaysia new commerative coins (including the latest, 100 years Persatuan Pandu Puteri Malaysia).
  • 4 new pages in full color for Malaysia Genting Game Token.

You can buy this book directly from Master Sifu Steven Tan shop, International Stamp & Coin (isc):
International Stamps & Coin Sdn Bhd
Address: 2.4 & 2.5, 2nd Floor, Pertama Shopping Complex,
Jln Tuanku Abdul Rahman, 50100 Kuala Lumpur, Wilayah Persekutuan.
Tel: +603-2692 6373, +603-26983781, +603-26926117
Fax: +603-26928380
E-mail: isc_mal[at], isc.mal[at]

You can also contact them via email for purchase by mail for international and west Malaysia buyer. The selling price is RM98. You might need to add postage & packaging charges for mail buyer.

You can also buy this book at coin dealer near you after the released date, a list of available coin dealer can be found in here; Malaysia coin dealer.
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Saturday, September 24, 2016

“Works on Paper: Art Inside the Wallet” exhibition

Bank Negara Malaysia is organizing “Works on Paper: Art Inside the Wallet” exhibition from Aug 4 until Nov 30 at Sasana Kijang, Jalan Dato’ Onn, Kuala Lumpur. Thirty banknotes dating from the 14th to 21st centuries from over 10 countries will be on display in the exhibition.

Works on Paper

I had the opportunity to visit the exhibition a few weeks ago. The exhibition is held at the temporary gallery, 2nd Floor, Sasana Kijang. For you who don't know where is Sasana Kijang, you can read my old post; Sasana Kijang location.

Malaysian banknotes art

Once you walk in the exhibition hall, you will be greeted by Malaysian banknotes art with new governor signature. I am not into art but the Malaysian banknotes art with Datuk Muhammad Ibrahimsignature will surely attract the attention of many collectors and visitors.

Ming 1 kuan

The first banknote that you will see in this exhibition is China one Kuan 1368 (Ming Dynasty) displayed in the glass case with information about the banknote placed in front of the note. The one Kuan bankote is among the world's earliest surviving paper money. Banknote on display is an original banknote, it is estimated to worth around RM80,000-RM120,000. On the wall, you can see some information about the earliest printed banknote and information about prototype banknote.

uv light banknote

The next section is showing visitor how the old China one Kuan 1368 banknote also have banknote security. Security is as much a concern in the 21st century as it was when the Ming dynasty banknote was created six centuries ago. When place under a UV light, the Ming dynasty banknote will show a warning written in Chinese, meaning "counterfeiters will be beheaded". Other security features included official seals, although the death penalty was a more effective detterent.

uv light RM50

In the same room, you can see the current Malaysia RM50 banknote showing under a UV light. You can also check your own RM50 banknote by placing them near the UV light on display. You can see some elements that only visible under UV light for original RM50 banknote.

JIM note printing machine

An old banknote printing machine used during the Japanese occupation era and plates for printing of Japanese Invasion Money (JIM banknotes) displayed in the middle of the next room. As is well known, JIM banknotes are banknotes which have the lowest security features compare to other banknotes during that time. Looking at the Printing Machine is enough to explain why JIM banknotes have low security features.

banknote security

On the wall, they are explanation about some of the security features used for Malaysia banknotes. In my opinion, BNM should promote security features for current Malaysia banknotes in this section/room. Many non-collectors don't know anything about their banknote security features. Picture for old Malaysia banknotes give an idea that the security features are only for the old Malaysia banknotes.

Agong watermark

Original signature plates for Tun Ismail Mohd Ali banknotes, Agong watermark, printing plates for Japanese Invasion of Malaya banknotes and printing plate for Malaysia banknote are also on displayed in the same room.


The Money Maze await you in the next room, thirty banknotes painted on wall that look like a maze makes it an interesting place for selfie lovers. Thirty real banknotes used in this exhibition are also displayed in the same section.

Design Studio

In the next room, you can find a Design Studio. They're no explanation what is the studio is all about but since it is a banknote art exhibition, I assume the studio is for BNM personel who design Malaysia banknotes. It will be great if real human (designer) is in the design studio. They're no information displayed in the studio when is "anyone" will be doing any demonstration etc.

banknote life

Uncut banknotes and banknotes which has been shred are also on display in this exhibition to show the life cycle of Malaysia Banknotes.

In the end of the “Works on Paper: Art Inside the Wallet” exhibition, Bank Negara Malaysia's Automated Cash Centre (ACC) Project screened for public viewing.

The Works on Paper: Art Inside the Wallet exhibition will be held at:
Temporary Gallery, 2nd Floor
Sasana Kijang, 2 Jalan Dato’ Onn,
50480 Kuala Lumpur

Opening Hours: Monday - Sunday / 10am - 6pm

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Friday, September 23, 2016

Korea 2018 Winter Games coins launched

On Sept 22, The PyeongChang Organizing Committee for the 2018 Olympic & Paralympic Winter Games (POCOG) launched the first set of commemorate coins for the upcoming Games. The commemorative coins for PyeongChang 2018 will be released in two batches. The first batch with 290,500 will be issued on November 18.

korea 2018 coins

The announcement was made by with Lee Hee-beom, the president of POCOG in the ceremony held in Seoul together with Kim Min-ho, the deputy governor of Bank of Korea, Poongsan Group Chairman Ryu Jin, Korea Minting, Security Printing & ID Card Operating Corp. President Kim Hwa-dong, and Kim Yu-na, a former figure skating champion and honorary ambassador for PyeongChang 2018 Winter Games.

The pre-orders will be taken by the Poongsan Hwadong which is a dealer and distributor of coins. The Pre-orders can be made throughout Korea from September 26 to October 7 at ten financial institutions (KB Kookmin Bank, Industrial Bank of Korea, Nonghyup Bank, Suhyup Bank, Shinhan Bank, Woori Bank, Korea Post Office, BNK Kyongnam Bank, DGB Daegu Bank, BNK Busan Bank) and Poongsan Hwadong offices (POCOG coin supplier) and is planned to be issued for five days from December 5 to 9. International sales will begin in January 2017 through six official sub-distributors in the Americas, Europe, and Asia.

Moreover, the POCOG said that the amount reserved for overseas sales will go depending on the number of pre-order sales in South Korea. Around 30 percent of issued coins will be sold into six distributors located overseas. The first batch of coins are composed of 4,500 set of gold coins amounts to 30,000 won ($27), 15,000 set of gold coins amounts to 20,000 won, 200,000 set of silver coins amounts to 5,000 won which have eight designs and 71,000 set of brass coins amounts to 1,000 won.

Gorosoi ski

According to POCOG, all of the coins have PyeongChang Olympics emblem on its back side. The 31.1 gram-gold coin shows "Gorosoi ski" which is a traditional South Korean winter sports while the 15.55 gram-gold coin depicts Alpensia Ski Jumping Centre located in PyeongChang.

The silver coins have engravings of the eight Winter Olympics disciplines namely, short track speed skating, ski jumping, bobsleigh, luge, and the brass coin which displays the athletes in winter sports.

"Since the commemorative coins are unveiled and pre-orders will start, we expect the people's interest in the PyeongChang Winter Olympics will be greater. Revenue from the sale of the coins should also help with the POCOG's finances," said Lee Hee-beom, the POCOG President.

Source: Korea Portal
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